ARTICLES ABOUT GAUTAM ADANI BY DATE - PAGE 2

NEW DELHI: Adani Power, owned by billionaire Gautam Adani, said on Monday it purchased the Avantha Group's Korba West Power Co. (KWPCL) for Rs 4,200 crore. The wholly owned subsidiary of Avantha Power owns a 600 megawatt coal-fired plant in Chhattisgarh. KWPCL is building an additional 600 MW of capacity. An Avantha Group spokesperson confirmed the signing of the deal with Avantha Group, owned by billionaire Gautam Thapar . "This acquisition consolidates our pan-Indian presence and further re-affirms our belief in the reform processes underway in the power and coal mining sectors," Adani Group chairman Gautam Adani said.

By Satish John and Sriram Ramakrishnan MUMBAI: Australia's Queensland state will pick up a "substantial stake" to fund the port and rail road projects to evacuate coal from the Galilee basin as part of the $7-billion project promoted by Adani Enterprises, India's biggest importer of the fuel, chairman Gautam Adani said in an interview to ET. The commitment made by the Queensland government is being cited by the Gujarat-based company as...

NEW DELHI: State Bank of India, the country's biggest lender, on Thursday said it will do "proper due diligence" before sanctioning the $1-billion (about Rs 6,000 crore) loan to Adani Mining, the Australian subsidiary of Adani Enterprises, for its mine project in Queensland. SBI chairman Arundhati Bhattacharya clarified that at present the bank has only entered into a memorandum of understanding (MoU) with the group. "It will go through proper due diligence both on the credit side as well as on the viability side.

MUMBAI: The Australian state of Queensland has cleared the Adani Group's coal mining project there and State Bank of India will lend up to $1 billion for the project. The Adani Group hopes to develop the project although global coal prices are at a five-year low. "Adani Mining, the Australian subsidiary of Adani Enterprises, and SBI, the country's largest lender, have today signed an MoU in the aftermath of the successful Brisbane G20 Summit concluded over the weekend," said the company in a statement on Monday.

MELBOURNE: The Adani group's proposed plan to build a 7-billion-dollar coal mine was today cleared by Australia's Queensland state which also announced a major investment in rail infrastructure to support the Indian conglomerate's mega project. The Adani group welcomed the decision of the Queensland government to clear the project in the Galilee basin that will ensure that one of the mega mines proposed by the company and GVK gets a clearance next year. Adani Mining Australia country head, Jeyakumar Janakaraj, noted that the announcement reflects the longstanding practice that has applied in comparable greenfield basins, such as the opening up of the Bowen Basin.

MELBOURNE: Prime Minister Narendra Modi is set to meet top Australian business leaders, including BHP Billiton CEO Andrew Mackenzie and HSBC Bank Australia CEO Tony Cripps , at a roundtable in Melbourne next week. The meeting will take place at the Government's house on November 18 after Modi has attended the G20 summit in Brisbane . Governor of Victoria Alex Chernov is hosting the chief executives' roundtable during which the visiting Indian leader would interact with the who's who of the Australian industry and business houses.

INDORE: Prime Minister Narendra Modi today meant business when he asked MP Chief Minister Shivraj Chouhan not to come to the airport to see him off but carry on with the global investors meet which he had just inaugurated. After he concluded his 30-minute speech, Modi took the mike again to urge the CM not to insist on following the protocol. "I know Shivraj Chouhan for many years. Protocol demands he comes to airport but I am telling him it is important to stay here," Modi said.

INDORE: Adani Group-led by billionaire Gautam Adani today pledged to invest Rs 20,000 crore in Madhya Pradesh during the next five years in various projects. Speaking at the Global Investors' Summit, he said Adani group's association with Madhya Pradesh dates backs to early 1990s. The Group is also partnering the state government in creating agri infrastructure facility for storage of 3.5 lakh grains. In field of power generation, the group is shortly commencing the construction of 2X660 MW at Chindwara and also an MoU will be signed soon for faster evacuation of cargo from Hazira and Mundra ports.

Adani Ports & Special Economic Zone is the biggest success story in the Indian port industry. In an industry largely run by big government ports that offer services at absurdly low prices, Adani Ports has been successful in chipping away at market share , and now has 16 per cent of it. The reason? In the post-liberalisation era, when Indian trade was picking up, the government-run ports on the west coast were struggling with low capacity, high employee cost and poor connectivity to the heartland.

NEW DELHI: Adani group chairman Gautam Adani has clarified that he was not speaking on behalf of Prime Minister Narendra Modi when he had a conversation with journalist Rajdeep Sardesai about his fracas with alleged BJP supporters at Madison Square Garden on Sunday. Adani told ET from Washington DC that he had "bumped into" Sardesai at a restaurant in DC where I asked him about the incident and said "no leader would support such behaviour. And Modi is no exception. " "I met Rajdeep at an Indian restaurant in DC last evening where we chatted for a few minutes.